Former Attorney General of the Federation, Abubakar Malami, spent Monday night in the custody of the Economic and Financial Crimes Commission (EFCC) as investigators intensified questioning over an extensive financial probe linked to his tenure in office.
Sources disclosed that although Malami was invited earlier in the day, he arrived late at the EFCC headquarters, which resulted in an extended interrogation session.
He is expected to report at the commission daily as the investigation continues.
A close associate confirmed that the probe involves 46 bank accounts allegedly connected to the former minister, forming a crucial part of the inquiry.
Malami had earlier stated on his X handle, following his November 29 appearance, that his engagement with investigators “went well,” describing the allegations against him as fabricated.
The deepening investigation focuses on several high-profile financial transactions executed under the Muhammadu Buhari administration. A 2023 investigative report identified at least five major deals now under scrutiny.
Among them is the controversial $496 million payment to Global Steel Holdings Limited as compensation for the terminated Ajaokuta Steel concession—despite claims that the company had previously waived its rights.
Investigators are also probing the management and disposal of seized assets forfeited to the Federal Government, the $419 million Paris Club judgment debt, and the $200 million settlement agreement with Sunrise Power in the Mambilla power project dispute.
Additionally, questions surround multiple legal fees reportedly linked to the repatriation of $321 million Abacha loot from Switzerland.
While the EFCC has yet to issue an official statement, officials confirm that questioning and document analysis will proceed in the coming days.
